Business News

CUSTOMERS IN THE NEWS: SÉRAPHINE POSTS EXCELLENT RESULTS

Congratulations to our customer, Séraphine who has reported a 35% year-on-year increase in EBITDA to £3m for the 52 weeks to 31 March, generating a turnover of £22m, up 25% on 2017/18.

Founded by Paris-born Cécile Reinaud in 2002, Séraphine has stores in London, Dubai, New York and Hong Kong, and recently celebrated the opening of its store in Delhi, India on the 1 April.

In a Draper’s article, Reinaud outlined her business’ objectives for international growth: “Although ecommerce remains our primary sales-driver, we still see the value in a strong physical retail presence, and we are investing in growing our brand reach in international territories via a selective store presence.”

Commenting on the prospect of Brexit, Reinaud says “Whilst the last quarter has been more challenging for UK sales due to Brexit, we are delighted that our international sales are really driving continued profitable growth. We export 70% of turnover, with 40% of that being exported to mainland Europe. Clearly Brexit is a concern for our future strategy, which is why we have had to plan for various possible scenarios in order to be better able to adapt to what the deal might be.”

Seraphine went live with PrimaNet in December 2015 with a software system providing a complete multi-channel solution. To read more about our partnership with Seraphine and download the Case Study visit our customer page here

To read the full Drapers Article click here

To find out more about Seraphine, visit their website: https://www.seraphine.com/en-gb/